Boston-based cell phone and broadcast tower owner and operator American Tower Corp. has entered into a definitive merger agreement with American Tower REIT Inc., part of the company’s plan to reorganize itself as a real estate investment trust for tax purposes.

"Pursuant to the merger agreement, (i) American Tower Corp. will merge with and into American Tower REIT Inc., with American Tower REIT Inc. succeeding to and continuing to operate the existing business of American Tower Corp. and (ii) the outstanding shares of American Tower Corp.Class A common stock will be converted into the right to receive the same number of shares of American Tower REIT Inc. common stock," the company said in a statement.

Consummation of the merger is subject to certain conditions, including approval by American Tower Corp.’s stockholders, final approval of the REIT Conversion by American Tower Corp.’s board of directors and other customary closing conditions, the company said. While American Tower Corp. said it anticipates electing REIT status for the taxable year beginning Jan. 1, 2012, there is no certainty as to the timing of a REIT election or whether it will ultimately make a REIT election.

A special meeting of American Tower Corp.’s stockholders is expected to be held on November 29, 2011 to vote on a proposal to adopt the merger agreement. Stockholders of record of American Tower Corporation at the close of business on October 3, 2011 will be entitled to vote by proxy or in person at the special meeting.